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HomeMy WebLinkAbout2007-027-03/20/2007-AUTHORIZING THE LEASE BACK TO THE SELLER OF THE RESIDENCE ON RANCH PROPERTY TO BE PURCHASED AS AN AD RESOLUTION 2007-027 OF THE COUNCIL OF THE CITY OF FORT COLLINS AUTHORIZING THE LEASE BACK TO THE SELLER OF THE RESIDENCE ON RANCH PROPERTY TO BE PURCHASED AS AN ADDITION TO COYOTE RIDGE NATURAL AREA FOR UP TO ONE YEAR WHEREAS,the City of Fort Collins has negotiated a purchase and sale agreement to acquire Coyote Ridge Stables, a 75-acre property adjacent to Coyote Ridge Natural Area, for eventual addition to Coyote Ridge Natural Area(the"Purchase Property"); and WHEREAS,a condition of the purchase and sale agreement for the Purchase Property,is that the City lease back to the Seller, for a period of up to one year, a three-acre portion of the Property that contains the existing residence(the"Leased Premises"), for residential housing only, in order for the Seller to have time to find a substitute residence; and WHEREAS, the Leased Premises are more specifically described on Exhibit A, attached hereto and incorporated herein by this reference; and WHEREAS, staff has proposed a monthly lease rate of $1,000 for each of the initial 4 months of the lease, $1,500 for each of the next 4 months of the lease, and $2,000 for each of the last 4 months of the lease; and WHEREAS, City staff has negotiated a lease agreement, a copy of which, dated March 14, 2007, is on file in the Office of the City Clerk and available for inspection,by which the City would lease the Leased Premises; and WHEREAS,the Land Conservation and Stewardship Board unanimously recommended that the Council authorize the proposed lease at its February 14, 2007, regular meeting; and WHEREAS, under Section 23-114 of the Code of the City of Fort Collins, the Council is authorized to approve the lease any and all interests in real property owned in the name of the City for a period of two years or less by Resolution, provided that Council first finds that the lease is in for the benefit of the citizens of Fort Collins and will be in the best interests of the City. NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT COLLINS as follows: Section 1. That the Council hereby finds that leasing the Leased Premises pursuant to the terms set forth herein is in the best interests for the City of Fort Collins. Section 2. That the City Manager is hereby authorized to execute an agreement to lease the Leased Premises consistent with the terms of this Resolution, together with such terms and conditions as the City Manager, in consultation with the City Attorney, determines to be necessary or appropriate to protect the interests of the City, including any necessary corrections to the legal descriptions shown thereon that do not result in a material increase or change in character of the intended lease property. Passed and adopted at a regular meeting of the C cil of the City of Fort pins this 201h day of March, A.D. 2007, May ATTEST: City Clerk EXHIBIT A A 2.98 acre tract with improvements described as: A TRACT OF LAND IN THE NORTHEAST QUARTER OF SECTION 21, TOWNSHIP 6 NORTH, RANGE 69 WEST OF THE SIXTH PRINCIPAL MERIDIAN, LARIMER COUNTY, COLORADO, DESCRIBED AS FOLLOWS: CONSIDERING THE NORTHERLY LINE OF THE NORTHEAST QUARTER OF SECTION 21 AS BEARING SOUTH 89 DEGREES 10 MINUTES 15 SECONDS EAST FROM SOLAR OBSERVATION; SAID LINE BEING MONUMENTED BY A 3/4 INCH REBAR AT THE NORTH QUARTER CORNER AND A 3/41NCH REBAR WITH A 2-1/2 INCH ALUMINUM CAP IN A MONUMENT BOX AT THE NORTHEAST CORNER; FROM THE NORTHEAST CORNER OF SECTION 21; THENCE NORTH 89 DEGREES 10 MINUTES 15 SECONDS WEST ALONG THE NORTHERLY LINE OF THE NORTHEAST QUARTER 1245.22 FEET; THENCE SOUTH 00 DEGREES O8 MINUTES 30 SECONDS EAST 1315.09 FEET; THENCE SOUTH 89 DEGREES 55 MINUTES 50 SECONDS WEST 886.73 FEET TO THE POINT OF BEGINNING; THENCE CONTINUE SOUTH 89 DEGREES 55 MINUTES 50 SECONDS WEST 360.00 FEET; THENCE NORTH 00 DEGREES 04 MINUTES 10 SECONDS WEST 360.00 FEET, PARALLEL WITH THE WESTERLY LINE OF THE NORTHEAST QUARTER; THENCE SOUTH 89 DEGREES 10 MINUTES 15 SECONDS EAST 360.00 FEET; THENCE SOUTH 00 DEGREES O7 MINUTES 32 SECONDS EAST 354.34 FEET TO THE POINT OF BEGINNING, COUNTY OF LARIMER, STATE OF COLORADO.